Ford Motor Seeks Buyers for Volvo, Jaguar, Land Rover

Ford Motor Co. is seeking buyers for its Volvo, Jaguar and Land Rover brands in Europe as the money- losing automaker tries to focus on North America, two people familiar with the strategy said.

Ford, which lost $12.6 billion last year, has hired Goldman Sachs Group Inc. and Morgan Stanley to arrange the sale, one of the persons said. The plan is known internally as ``Project Swift,'' a reference to the speed at which Ford wants to make a sale, said the people, who didn't want to be identified because the talks are confidential.

Selling the brands would end a 20-year initiative to expand sales of luxury autos by acquiring European companies. Since 1998, before Dearborn, Michigan-based Ford bought Land Rover and Volvo, the company's own Lincoln unit has plunged from No. 1 in U.S. luxury sales to seventh.

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jt716 - 6/12/2007 1:57:52 PM

+2 Boost

why volvo?

daytonaviolet - 6/12/2007 10:45:42 PM

+1 Boost

It's the only one of those brands that makes any money. Yes, that should be a reason to keep it, but it would probably get Ford some quick cash that it needs.

mini22 - 6/12/2007 3:04:58 PM

+3 Boost

Agreed-Ford has been using Volvo platforms for the Mazda 3,Ford Taurus,Sable and upcoming MKS. Perhaps they are going to switch over the small car platform to the Mazda 2 chassis and can stretch it for a B type car to replace the 3.However the Euro Ford Mondeo is has Volvo engines. I can see Jaguar and Landrover but I really thought they needed Volvo.I guess they can go rear drive with the Australian Falcon Platforms.Vovlo has got good products. Someone large will buy them.

jt716 - 6/12/2007 4:44:49 PM

+2 Boost

Man I really hoped they would have kept Volvo and Land Rover

Caddyman07 - 6/12/2007 6:19:23 PM

+2 Boost

They better not do that. The only thing that is sinking them now is what they would have left if they got rid of Land Rover, Jaguar, and Volvo...

Agent63 - 6/13/2007 2:39:52 AM

+1 Boost

First off Land Rover's doing well for themselves so I don't see why Ford needs to get rid of them. Volvo and Jaguar both need new owners *especially Jaguar*. Ford simply isn't putting enough quality controls into this brand's finished products. Jaguar should be prestigious and of high quality they do deserve it. The XJR/XKR both look great with top packages. The X-type needs to go and the S-type needs a redesign.

Volvo should be getting more publicity than Ford is allowing them. There seems to be restrictions or something to let Volvo succeed more as an eco-brand than Ford. Now we all know Volvo is an understated luxury brand. I feel right now Jaguar and Volvo need to be sold. As for Land Rover/Range Rover they need to be kept.

On the other end of the spectrum I see Ford wanting to focus mainly on their house brands. I think Mercury needs to be taken out and Ford managing Ford and Lincoln ONLY. Quality is a big issue with these brands. If they can get it up to Cadillac standard they have a chance in the USDM.

I would like to see new owners of Jaguar and Volvo. They both deserve much better than a financially struggling company.

urbansouljah - 6/13/2007 10:06:09 AM

0 Boost

Jaguar and Land Rover are the same company in the background. They can't be seperated.

r_driver04 - 6/13/2007 2:23:58 PM

0 Boost

And they both lose a ton of money. Atleast Ford has be able to turn a profit with Volvo and utilized alot of their engineering. What did Rover or Jag bring to the table besides crazy ass debt and horrible reliability and owner ratings.